Ephesians 1:10

The Greek word translated "administration" in the NASB (oikonomia), and not translated in the NIV, means dispensation, arrangement, or administration. The main idea in this word is that of managing or administering the affairs of a household. [Note: See Charles C. Ryrie, Dispensationalism Today, pp. 22-47; or idem, Dispensationalism, pp. 23-43.] The Greek word translated "times" is kairos, which means particular times, rather than the passage of time (chronos). The dispensation in view is the millennial reign of Christ on earth during which everything will be under His rule (1 Corinthians 15:27; Colossians 1:20). Even though in one sense everything is under Christ’s authority now, Jesus Christ will be the head of all things in a more direct way in the messianic kingdom. Everyone and everything will acknowledge and respond to His authority then (cf. Isaiah 2:2-4; Isaiah 11:1-10).

"This verse has been used as the keystone of the doctrine of ’Universalism’, that all men shall be saved in the end. It does imply that in the end everything and every being in existence will be under His authority, but it is dangerous to press a doctrine from a verse without regard for the balance of the evidence of Scripture as a whole, and, in this case, without respect for the solemn presentation from one end of Scripture to the other of the alternatives of life and death dependent on the acceptance or rejection of God’s salvation." [Note: Foulkes, p. 53.]